End of Domestic Operations After 22 Years
Beverage brand Smoothie King will withdraw from South Korea in October next year. This marks the end of its domestic business 22 years after opening its first store in Myeongdong, Seoul in 2003.
According to the industry on the 22nd, Smoothie King Korea, operated by Shinsegae Food, sent a business closure notice to Smoothie King franchisees on the 20th. Shinsegae Food plans to support franchisees with remaining lease periods in changing their business types.
A Shinsegae Food official stated, "We negotiated with the U.S. headquarters regarding the domestic business rights but failed to reach an agreement on contract renewal."
The number of Smoothie King stores decreased from 305 in 2021 to 169 last year. Currently, about 90 stores remain in operation.
Meanwhile, SPC Group also closed its sandwich specialty stores Eggslut in Hannam and Jeongja in Bundang, as well as the salad specialty store Pig in the Garden in Gangnam, citing poor sales since the end of last year.
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